Shares of realty firm Brigade Enterprises opened with a gain over 13 percent in early trade on Wednesday after the company reported a sharp surge in March quarter net profit. The company's consolidated net profit in Q4FY21 rose to Rs 39.57 crore from Rs 2.68 crore, YoY.
Total income during the quarter increased 27.39 percent to Rs 820.86 crore from Rs 644.34 crore in the year-ago quarter.
The company achieved all-time high pre-sales of 1.66 million sq ft in Q4FY21 and 4.60 million sq ft in FY21. Real estate sales increased by 58 percent from Q4FY20 by sale value.
For the full 2020-21 fiscal year, the Bengaluru-based firm posted a net loss of Rs 46.32 crore as against a profit of Rs 130.58 crore in the previous year.
Total income fell to Rs 2,010.39 crore last fiscal from Rs 2,681.56 crore in the 2019-20 financial year.
At 10:10 am, the shares of Brigade Enterprises were trading 5.07 percent higher at Rs 261.95 apiece on the BSE. The stock has gained over 7 percent in the last three days, while the one-year return on the stock is almost 172 percent, outperforming the Senex by 106 percent. Year-to-date, the stock has posted over 4 percent gains.
(Edited by : Ajay Vaishnav)